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HomeMy WebLinkAbout1528 3. To place and continuoualy keep on the bui'd~ngs nuw o? hcreat~e~ uwate on said land ~nd on all equ~pment and personsNy covered by this mo~tg~ +gs, with ~tl premwmi thereon pa~d in fult, t~re insurence ~n ths usual ~~a~dard pol~cy fo~m, in • ~um app~o~ed 6y the MORfGAGEE, a~~d windsto~m in~ura~ce in ~he usual t~andard pol.cy lam, in a ~um approved by ~h~ MORTGAGEE, in such co+npany or compan~es ~s iM MOR~GAGEE may dirtctt ~nd all lire and w~n~Js~oim iniu~ance poGues on ~ny of said b~ildmgs, ~ny interest therein o~ parl ~haraol, in th~ +ggroyate sum ~io~esaid ot In ~xcest thereof, slwll con~a;n ths uswl ~u~dard ma~qagee daus~ a such other dau~s ~i ~he Mor~yagee may requ+re, m~?i~g the loss under •a~d polr cies, each and every, payable to s+id 1NORiGAGEE ~t ~n interest msy appear, and each and every iuch po~icy ahalt be promprly ass gncd and det~vered ~o any hald by taid lNORTGAGEE as furtAer :ecurity to ta;d mortgage deb1, ard, nof teu 1ha~ len (10) days in advance oi the expirstion of each polity, to dt IivN to wid MORTGAGEE a renewal thcreof, together with a rece:pl fa Ihe premium of iuth ~enew~i; and ~hare shall be no f~re o~ windatorm insur~nce plsced on ~ny of s~id build~ngs, any intere~t th~rein a pa~f the~eof, unleu in the form and w;th the lou payabte as atoresaid; and in ihe avent any sum of mon~y becpnes payable unde~ such policy w poGc:es said MORTGAGEE shall hava ~M opGon to receive a.~d apply tha i+~me on accouM o/ the indebted- neu sec~red hereby or to pe~mit said MpRTGAGORS to receive ~~d uss it p any pait thereof tor o:her p~rp~:es, v.itho~t ~h~rrb~ ~wa:yi.i~ o~ unp.;ir- ~~+g a~y equ~ry, l~en w right unde~ w by virtue o} tAis mo-tgags; and in the event ia~d MORTGAGCRS shall f~r any reawn fait 1o keep ~he said premiiei w insured, a(ail to defiver p~omplly any of said polities of inwrance to said MORTGAGEE, u fad pror~ptly to pay fully any prE~nium therefor w in any respecl fail b p~rfpm, discharge, execute, ei(ect, comptote, comply wirh and abid~ by this corenanl, w any part hereof, sa~d MORiGAGEE may plate a~~d pay fa such insu~ance or any part thereof wilhout waivi~g a afiecting ~ny oplioo, lien, equity. w righl unde~ w by virtu~ of ihis Mort9afla, and ~he full amount of ~ach and er~ry such payment shall be immediately due and payable and shall bear interest from ths date ~hereof un~il paid at the r~te ol ~~~e per centum pe~ annum and to~ethr~ w~th such inrerest shaii be secured by fhe lieo of thif mwtgsge. 1. ?o ptrmit, commit o~ suffer no waste, impa'umcnt or deterioration of said property p any part thereof. S. To pay all and tiry~lar the cosfs, charge~ and expenses, inciudirg s reasonabla attorney i fce aRd costs of abst~acts of title, ir+curred or paid at any time by said MORTGAGfE, because «~n the cvent of tFw failur~ on thc part o~ rhe sa~d MORTGAGOR to duly, prompily and fully pe~form, d~xharge. >xecute, effect, comptete, comply_ w~th and ab;de by each and every the stipula~~ons, agreements, co~ditions, and wvenants of said promissory note and Ihi~ mor~gage any w ei~h~v, arid sa~d costs, char9es and expenses, each and every, shall be immediatety due and payab~e; whether w not the.e be nc~tKe de mand, attanpt to co~lecr or tv+f pending; and the full amount oi eath and every such payment ahall bear intereat from the date thereof uroil paid at the rate oi nine per centum per annum; anci all said wsts, chargea and eapenses inturrbd a paid, togNher wAh such intereet, shall be secured by the iien of thi~ rtwrtyage. 6. 1'hat (a) in the ev~n? of a~y breach of this Mortgage o? defsult on the part of the MORTGAGOR, w(b) in the eve~t any of sa~d sums of money he~ein refc~red to be not promptly and fully paid w~thin th~rty (30) days next after Ihe sam~ severalty become due and payabie, wiii.uvt demand Or notite, or (c) in Ihe event each and every the stipula~ions, agreemrnts, conditions and covenanrs of sa:d promisso~y note a~x1 th,s mortgage any w ei~her are no! ~uly, promptly and tuUy performed, d~uMrged, executed, effected, completed, complied with and ahide~ by, then in e~ther w a~y such event the said ag gregste sum mentior.ed in sa~d p~om~ssory oote the~ rema~ning unpald, with interesl accrued, and all moneys secured hereby, shall become dve and pey- able fathwith, w thereafte•, at the eprion of said MORTGAGFF, as fully and compleeely as if all of the said sums of money wcre or~g~nally stipuiated to be pa~d on such day, anything in sa:d p~om~ssory rwte or in ~his Mortgage to the con~rary noiwi+hs~anding; and thereupon or thereafter at the option of ia~d MORTGAGEE, without norice w demand, suit at law or in equity, therefore o? thereaiter begun, may be prosecutcd as if all moneys secured hereby n~d mawred prwr to its inst~~ur~on_ 7. That in the event that at the beginnirg of w at any time pe~ding any suit upon this Mongage, w to foreclose it, or to retorm It, or to enforce paymeot of any slaims haeunder, said MORTGAGEE shap appfy to ihe Co~?/ having junsdiction thereof !or the appointment of a Receiver, suth Court shall icrrhwifh appo;nt a receiver of said morfgaged property ali and singvla?, intiudmg all and singula~ the income, prof~ts, issues and revenues from whatever source derived, each and every of wh~ch, i~ being express~y understood, is hereby mortgaged ss ~f spec~ficatfy se1 forfh and described in the g~anting artd h~be~dum clavses hereof, and s~ch Receiver shall have al! !he boid and eftKtive funct,ons and powers in anywise entrusted by a Court to a Reteiver, and s~ch nppoiroment shall be rr.ade by such Court as an admitted equity and a matter of absolute right to sald MORTGAGEE, and without re(erence to the edrq~aq w ioadcqvacy of the value of the property mwfgagcd w to the soivency w insotr•ency of sa+d MORIGAGOR or the defendants, and that such rents, profits, incorne, issues and revenues shall be applied by such Receiver accord~ng to the ~ie~ w equity of said MORTGAGEE and the practice of such ~ CouA. 8. To duly, promptly and fully p~rform, discharge, execute, effect, comptete, compty with and abidr by each and eve?y the sfipufations, agreements, condifiona and covenan~s ;n sa~d promisswy note and this mortgage set torth. 9. That in the event the ownership of the mortgaged premises, or any part thereof, betomes vested in a perw~ other than the MORTGAGOR, the ~:'.ORTGAGEE, its successora and ass~gns, may, witho~t notice to the MORTvAOR, deal wi~h such successor or successor in interest with refe~ente to this n,o~tgage and the debt hereby secured i~ the same manner as wifh Mortgagw w~thout in any way vi~iating or d~scharging ~he Morigagort' tiability FKrc under or upon the debl hereby secured. No sale of the Fremises hereby mwtgaged and no forbearance on the parl of Ihe MORTGAGEE a its successors or auigns and no extension of the time for fhe payment of the debt hereby secured given by lhe MORTGAGEE or its successors w assigns, shall operate to releasc ducharge, modify change or a((ett the original liab~lity of the MORTGAGOR herei~, either in whole w ie part. 10. h is speciHcally agreed ~ha? time 7s of ~he essence of this co~tract and that no waiver of any obl~gat~on hereunder w of the obligation sr cured hereby ahali at any time thereafter be held to be a waiver of the terms hereof or of fhe instrument secured he~by. l i. In add.!;o~ to the fwego:n~ monthty paymenrs of p: inc pal aRd interest requ~red by the prom~ssory note secured hereby, mortgagor covenants and agrees to pay to mortgagee vvith each month!y payrnent an add~~ional sum eet~mated by mortgagee to be equa! to 1%l~ of the annua{ cost of the fo0ow- ~nq: - A-A~I real property taxrs le.~ed o~ assessed agai•tst the above descriyed reaf estate. B-Prem~ums o~ fire and windsrozm insurar.ce as he~e~n req~~red to be carried on the improveme~ts situate on the above desuibed premises. C-Prem:ums on such mortgage gua+anty ir.surar~ce as mortgagee shall from t~me to time deem fit to carry on the loan secured hereby. Mortgagee shail from ~~me to time.notify mortgagor in writing of the amount due and payable hereunder and such sum shali thereupon be due and Fjyabfe on the due date of the irext month!y payment and each successive month thereafter urtil mwtgagee shall notify mortgagor of a change in such a~.ount_ 5uch sums sha~l tx app!ie~ by mort~agee toward the Fayment of real property ta:es, insu~ance p~em:ums, a~~d mortgage guaranty insurance ~ p'emiums. ' tN \VIiPJE55 Y~NEREOF, the said IKOR7GAGOR has hereunto set h~s hand and seal the day and r irst sforewid. Signed, Sealed and deliver in the presence of: ~C a~~ i ~ , ' ~ c~.~ I ' , . ~~~i c ~ Seaq ~ / 1 Seal) I S1ATE OF FLORIDA ~ ; ccuNTr oF ST . LUCIE ~ Cod 1-. Bai le ; 8etwe me personaUy appeared y y a~ ! ~rolyn A. Bc111E}/ his wife, to me well known and known fo me to be + the individuals desvibed in and who executed the fw oi instrument, and acknowl ! eg ~g edged before me that they executed the same for the purposes t therein expressed. And the said CaZOlyil Bailev ` N~fe of the said COdY _ L Ba i ley upon s separate and private i examinat~on by me taken separate and apart from her said husband, acknowledged to snd before me that she executed said instrument freety asd volun- !arity a~d without any compulsion, constraint, app e ror fear of or Fkr said husband. Jul ~ r~ WITNESS my hand and offiual seal thi d y of A. p• q~_ _ _ ~ ~ - , _ ~ Notary Pu61ic in ar+d for t e St ' of F ~~T,l~np! " ~ _ ' ~ ~ My Commissioo espires: " = _ : . - ~ Retum To: l " - - ; " ' ~ . = . ~ Fint Fedenl $avings 8 loa~ Assodation NOTAR!' PUB:IC. STATE Or ' . ' Oi Fo~t v:erce. ~fOA ~ (~~{GE ' - ~ l MY COat~: I'St^Fi Ex-~^-~- brC.~29; • : fort Pierce. Flerida BonOed Tnru G~n_:s; , ~ ~ t'~~ . _ . .::~YI'.. . . 25918~ _ 9^'S~ ~ - This Instrument Prepared By Jahn- W. Collins FIL~C AHD : RECOROED ~ First Federal Savings & Loan Association - ST• WC1~ L'OUMTY F~~. F lorida aocF~ p ~ of Fort Pierce ~rTRAS s ~ P~~ i.fRK CI~:C~tT COURT~ ~,p f~~ vF~~~~-,FQ~ ~ Checked By t~_ s ~u~ t8 8 is AM'73 ~i~~~ ; ~ - ~ .i - - - ~ - - - - ~ - ~ `~.T~...__~> . ~ . . e..~. ~:~i'.